Hi guys,
New to trading and I’ve read ‘Trading in the Zone’ and ‘Best Loser Wins’ because I am sensing that the psychology of trading is vital.
However, we have to be able to read charts as well, of course!
As such, I am looking for recommendations on the best books on Technical Analysis please?
Thank you in advance!
While TA is useful in helping your develop a profitable strategy and process that you must stick to for every trade, it doesn’t do any more than that. The books you’ve read are all you need.
However, for learning chart patterns you should Read these Books by Al Brooks (Follow the order) 1) Reading Price Charts Bar By Bar 2) Trading Ranges 3) Trading Trends 4) Trading Reversals
It’s a long list honestly! But you can read Encyclopedia of Chart Patterns! It’s a good one according to my own experience!
‘The Candlestick Trading Bible’ is one of the good book for price action and candlestick that you should read. It’s useful to me.
Are you sure? I didn’t get any advance info by reading this book! This one is very average type trading book!
It is the old trading cliche, that trading is 75% psychology, and 25% technical ability. This may be true…for a trader with 10’000 hours screen time behind them, but couldn’t be further from the truth for someone just starting to get interested in the markets.
A beginner needs to delve into technicals, and also a core understanding of what drives the markets.
I would recommend these books as a good starting basis:
Fibonacci Trading: How to Master the Time and Price Advantage - Carolyn Boroden. Aside from introducing the beginner to the concepts of Fibonacci and thus harmonic’s trading, which a trader needs to understand a bit about regardless of to what extent he ends up using these methods himself, this book will get the trader accustomed to thinking about looking at key levels that might be great trade locations, and then different methodologies for framing a trade at these key levels. It is also an easy read…(I personally stopped at the Fib-Time expansions section, but that is a relatively small section of the book, right near the end)
The Art of Currency Trading: A Professional’s Guide to the Foreign Exchange Market - Brent Donnely
If you are going to trade Forex, then u need to know what the fk is going on. What drives it all. What your broker’s business model (likely) is, etc. This book is among the best in that department.
The best route to go down however, is to find a good FX trader running some kind of educational community. This can be a double edged sword though. End up at the wrong one, or one that just doesn’t suit your personality type, then it can be more of a hinderance than a benefit in the long run. I would say the key feature of any forex mentor, is that they openly trade, in real time, allowing their followers to copy trade whilst they learn (if they wish to do so), practising exactly what they preach. Any mentor(s) who just sit yapping away about the markets without demonstrating actual market acumen, aint worth nowt. Don’t buy the “we want you to learn how to do this for yourself” schtick. If you are paying to sit and listen to another trader talk his talk, you want to be gaining a good solid template for framing and trading the markets. Likewise, there are some educators who may have had success in the past (but couldn’t adapt to change in markets) or may get success in one very narrow area, yet have lots to say about everything else, which will be invariably of little to no value and just be yet more Red Herring bait that leads you up the Garden Path.
So it’s a minefield tbh. A costly minefield at that.
Have you complete Pipsology? There’s a ton of info on technical analysis.
Perhaps these will be helpful.
Definitely complete the school here at Baby Pips first. (Perhaps, go though it twice?) That lays an excellent foundation for future reading you do, including technical analysis.
Wish you well and successful trading!
Matt
On my list. Might need to learn japanese tho.
Go back to where it all started.
1)“San-en Kinsen Hiroku” aka “The fountain of Gold - The Three Monkey Record of Money” written in 1755
2)Sakata Senjyutsu Syokai, aka “A Full Commentary on the Sakata Strategy”
3)Homma Sokyu Soba Zanmai Den, Honma Sokyu aka " Tales of a Life Immersed in the Market"
Check out threecrowhill .com they base their analysis on some of these 
Technical analysis of financial markets by murphy is one of the great books for understanding how technical aspects work in Forex.
If you are just looking for something to begin with, you should read- Getting Started in Technical Analysis by Jack D. Schwager This book touches on all the major topics and will teach you basic things like choosing entry, exits and all.
If you want to dive in deeper, start reading Technical Analysis Explained by Martin Pring. It contains all the info you need about technical analysis and covers all the core concepts. This is the Bible of trading.
You won’t need any other book.